The Third Rail of American Politics Is Live
The Congressional Budget Office's economic outlook for the next 10 years, released in late January, found that the federal deficit will balloon to 4% of GDP by 2025 from 2.8% today, thanks in large part to entitlement programs like Social Security.
Bill to Delay DOL Fiduciary Rulemaking Is Revived
Rep. Ann Wagner, R-Mo., has reintroduced a bill to force the DOL to wait until the SEC makes its own fiduciary rule.
Obama Endorses DOL Fiduciary Redraft, Girds for Fight
“If you want to give financial advice, you have to put your clients’ interest first,” Obama said Monday, blasting “backdoor payments” and high fees.
Obama Tells DOL to Move Forward With Its Fiduciary Redraft
President Obama to speak at AARP about DOL’s fiduciary redraft; White House to also release its report on redraft.
6 Big Hack Attacks Targeting Financial Data: 2015
More than 500 million financial records were stolen last year, according to the FBI.
New Hire Roundup: PIMCO Names Fels Managing Director, Adds CIO
Meanwhile, New York Life says it will hire 3,600 reps this year.
Top 20 Countries for Retirement Security: 2015
The U.S. keeps its spot near the bottom of the Natixis rankings for the third year running.
FSI Boosts Lobbying on Federal, State Levels
With 10 staffers working the federal and state beats—and three more to be hired this year—the FSI is flexing its advocacy muscles.
Obama, House Republicans Jockey on Charity Tax Breaks
The GOP wants to make three temporary tax breaks for donations permanent; Obama wants to cap the charitable tax deduction for high earners.
SEC Would Hire 431 Under Obama’s 2016 Budget
The new hires would come in addition to the 105 examiners the SEC plans to hire in fiscal 2015.